Shalom Life | October 22, 2014

Peter Thiel Jumps the Facebook Ship

Early Facebook investor and board memeber sells nearly all his stock

By: David Shear

Published: August 21st, 2012 in Business » World

Peter Thiel Jumps the Facebook Ship

Facebook (FB on NASDAQ) board member and early investor, Peter Thiel, has sold almost all his Facebook shares last week, according to documents filed with the SEC.

Thiel, co-founder of PayPal and one of the most successful venture capitalists of all time, has sold his 22.3 million shares of Facebook on Aug. 16 and Aug. 17 for an average of $20 a share, raising around $446 million from the sale. Thiel purchased his shares for $500,000 in 2004.

Last Thursday Facebook lifted their lock-up period for many early investors, meaning that those investors can now sale their shares. Having watched the value of their shares lose nearly 50% since the company went public, it is no surprise that many investors took advantage of this opportunity.

Thursday lock-up expiration is the first of five insider-sale restrictions scheduled during the company’s first year as a public company. By November, another 1.44 billion shares will freed up.

Is Thiel’s exit a warning for investors?

As of writing, Facebook is still at $19.51 a share, down 2.5% today.

Known for Chemistry, Israeli Nobel Laureate Also Champions Tech Entrepreneurship Known for Chemistry, Israeli Nobel Laureate Also Champions Tech Entrepreneurship TrendingMango Under Fire For Selling 'SS Blouse' Mango Under Fire For Selling 'SS Blouse' TrendingIsraeli Site Beats BuzzFeed For Second Most Shared Links on Facebook Israeli Site Beats BuzzFeed For Second Most Shared Links on Facebook Trending
 

The Love Jewce: Girlfriends' Guide to Divorce

October 22, 2014 | By Andria Kaplan
The Love Jewce: Girlfriends' Guide to Divorce

Lisa Edelstein stars in a new Bravo show based on the books by Vicky Iovine

Read More

Faces on LP Album Covers, From Madonna to Bob Dylan, Beatbox to Israeli Musician's A Capella [VIDEO]

October 21, 2014 | By Daniel Koren
Faces on LP Album Covers, From Madonna to Bob Dylan, Beatbox to Israeli Musician's A Capella [VIDEO]

Check out this amazing must-see video for Roy Kafri's "Mayokero"

Read More

Jewish Author Naomi Wolf Compares Israel to the Nazis....Again

October 21, 2014 | By Daniel Koren
Jewish Author Naomi Wolf Compares Israel to the Nazis....Again

The feminist political activist has yet again condemned Israeli settlements, saying it's the "same as those of Nazis cutting off the beards of Jews"

Read More

Joan Rivers to Publish ‘Burn Book’ Posthumously

October 21, 2014 | By Ashley Baylen
Joan Rivers to Publish ‘Burn Book’ Posthumously

The legendary comedian requested her diaries be released after her death.

Read More

Barbara Walters ’10 Most Fascinating People’ is Returning

October 21, 2014 | By Ashley Baylen
Barbara Walters ’10 Most Fascinating People’ is Returning

Scarlett Johansson, Chelsea Handler, and Oprah will be among Walters' guests.

Read More

Monica Lewinsky Leads Anti-Bullying Campaign, Calls Herself "Patient Zero"

October 21, 2014 | By Ashley Ramnarain
Monica Lewinsky Leads Anti-Bullying Campaign, Calls Herself "Patient Zero"

Bill Clinton's former intern speaks out at the Forber 30 Under 30 Summit.

Read More

Early Brooke Burke Nude Photos Featured in Art Gallery

October 21, 2014 | By Ashley Ramnarain
Early Brooke Burke Nude Photos Featured in Art Gallery

The former 'Dancing With The Stars' host can be seen topless at the Lilac Gallery in New York City.

Read More

Student: Disgraced Rabbi Took University Students On Unauthorized Field Trips to Ritual Baths

October 21, 2014 | By Daniel Koren
Student: Disgraced Rabbi Took University Students On Unauthorized Field Trips to Ritual Baths

Towson University student says Rabbi Barry Freundel, charged with voyeurism, insisted female students accompany him to a Georgetown synagogue

Read More

More Headlines